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senate majority leader harry reid has said if they don't reach something by monday he'll bring forward a bill to help out the middle class for an up-and-down vote. >> right. >> put everybody on the record, but especially republicans. isn't that the tactic? >> exactly right. the step before that is harry reid is working on some bill that might get bipartisan support in the senate. president obama in that meeting apparently told them try and work something out. and reid left and made a statement last night, as did mcconnell, that they're going to try and work something out. the best-case scenario is that sometime tomorrow they are able to put it to the senate and then it quos to the house, and then there's a real bill that sounds like a compromise. it's not the grand bargain we were all looking for. it will be some kind of deal to stop going over the cliff. option two is what we're talking about here, that those two can't get a deal and they put something forward and everybody in the senate and subsequently hopefully in the house gets to say yea or no to it. you're on the record. if you
senate majority leader harry reid has said if they don't reach something by monday he'll bring forward a bill to help out the middle class for an up-and-down vote. >> right. >> put everybody on the record, but especially republicans. isn't that the tactic? >> exactly right. the step before that is harry reid is working on some bill that might get bipartisan support in the senate. president obama in that meeting apparently told them try and work something out. and reid left and...
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Dec 24, 2012
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>> reporter: well, and don, we should probably say where our senate majority leader harry reid and senator mcconnell, the republican leader in the senate, because now all eyes turn to the senate. they're set to come back to town on the 27th. that is thursday. and at this point there are a number of options for some sort of bill that senate majority leader harry reid could put on the floor, but right now it appears democrats in the white house are pushing for something that still concentrates on making sure that income tax rates for those making a quarter million dollars or less don't go up. that said, it's really hard to see how at that rate senator mcconnell might allow some republican senators to support it or that some republican senators would even want to jump on board with that and even harder to see how a bill like that is something that house speaker john boehner would allow to the floor -- allow to the house floor for a vote. so things are very uncertainty point and you're hearing a lot of pessimism as we just heard from democrats and republicans about what will happen with the fi
>> reporter: well, and don, we should probably say where our senate majority leader harry reid and senator mcconnell, the republican leader in the senate, because now all eyes turn to the senate. they're set to come back to town on the 27th. that is thursday. and at this point there are a number of options for some sort of bill that senate majority leader harry reid could put on the floor, but right now it appears democrats in the white house are pushing for something that still...
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Dec 29, 2012
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so senate majority leader harry reid, a democrat, has crafted an alternative proposal that he has -- saying he will put -- if the negotiations i just described fail and if the senators cannot come to a bipartisan agreement, then the democratic leader is going to put on the floor a democratic proposal that would extend tax rates for households that make $250,000 and less. hatch the alternative minimum tax and extend unemployment insurance. so that's a democratic proposal. the problem with that is, you can expect a republican is likely to filibuster it or block it in some way so it's not likely to go anywhere. and it's not likely to be put on the house floor for a vote by republicans in the house or democrats in the house. so you can assume it's a nonstarter. it's more of the political proposal than a real proposal. bottom line. there's one good thing in washington. or two. you're there. and if we can get a shot of the capitol back, at least there's a nice dusk happening it's beautiful. let's hope that helps the mood there. and they get something done. jess, thank you. >> thanks. >>> d
so senate majority leader harry reid, a democrat, has crafted an alternative proposal that he has -- saying he will put -- if the negotiations i just described fail and if the senators cannot come to a bipartisan agreement, then the democratic leader is going to put on the floor a democratic proposal that would extend tax rates for households that make $250,000 and less. hatch the alternative minimum tax and extend unemployment insurance. so that's a democratic proposal. the problem with that...
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Dec 24, 2012
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senate majority leader harry reid has to cobble together something to get support from some republicans in the senate and also from the house in order to aavert this fiscal cliff. the white house right now is saying they want the threshold for the income tax rates at a quarter million dollars. that might be difficult to get republican support on that, so we'll see if that changes, suzanne. >> do we expect that the president is going to come back early from his hawaii vacation if anything happens on the senate side? clearly, he could get things done from hawaii as well, but it could be at least symbolically for him to return to washington. >> reporter: definitely. we expect that he will be heading back to washington, d.c. he was supposed to be here through the new year. i will tell you nothing is official on the schedule that he's definitely going back to d.c., but the sense you get from the white house is that it's more an issue of when and not if. if there is a bill that goes through the senate, the president will have to be there in order to perhaps twist some arms and certainly the o
senate majority leader harry reid has to cobble together something to get support from some republicans in the senate and also from the house in order to aavert this fiscal cliff. the white house right now is saying they want the threshold for the income tax rates at a quarter million dollars. that might be difficult to get republican support on that, so we'll see if that changes, suzanne. >> do we expect that the president is going to come back early from his hawaii vacation if anything...
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Dec 28, 2012
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harry reid saying the u.s. is going over the cliff. consumer confidence numbers are down. markets are roiled, and it's not surprising people are worried. but now factor in as tim geithner said that the debt ceiling would be reached by the end of the year. $16.4 trillion. extraordinarily measures. now, what does extraordinary measures mean? suzanne, i'll tell you. it means literally robbing peter to pay paul. shifting the money around. so that you can actually keep paying the bills before you hit the ceiling. all in all, i can't remember an end of a year, suzanne, when we've had two so serious issues affecting the u.s. economy all at the same time. >> it is worrisome. i wonder, richard, do we have any sense of how the markets, the global markets, are even reacting to the potential, the possibility that we'd go over the cliff? >> reporter: yes. at the moment, it is quite clear they are holding their nose from the stench of politics, and they are believing that politicians will do the right thing. i was talking to one u.s. congressman today. in fact, you must have talked to s
harry reid saying the u.s. is going over the cliff. consumer confidence numbers are down. markets are roiled, and it's not surprising people are worried. but now factor in as tim geithner said that the debt ceiling would be reached by the end of the year. $16.4 trillion. extraordinarily measures. now, what does extraordinary measures mean? suzanne, i'll tell you. it means literally robbing peter to pay paul. shifting the money around. so that you can actually keep paying the bills before you...
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Dec 24, 2012
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harry reid has the task of trying to cobble something together that can get some republican support in the senate and also get some republican support in the house and make it through congress. that's a difficult task. the white house saying they want the threshold for income tax rates expiring to be $250,000 and above. they are back to their initial negotiating position. and so between that and the lack of discussions going on, you sort of understand why you're hearing from democrats and republicans this pessimism about going over the fiscal cliff. privately, that's all what we're hearing that it is a real possibility to go over the cliff, even though there's a possibility of still working out a deal. but this is a last-ditch effort for sure. >> it's incredible that privately they are also saying that. everyone thought once we get closer to the deadline, they are going to get it together, come up with some sort of deal. if this stopgap measure does actually pass before january 1st, is the president prepared to go back to d.c. and cut his vacation short? >> reporter: he is. officially
harry reid has the task of trying to cobble something together that can get some republican support in the senate and also get some republican support in the house and make it through congress. that's a difficult task. the white house saying they want the threshold for income tax rates expiring to be $250,000 and above. they are back to their initial negotiating position. and so between that and the lack of discussions going on, you sort of understand why you're hearing from democrats and...
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Dec 24, 2012
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reid in hawaii for the funeral of daniel inouye and is now back to washington. it could come down to the senate doing something. senator mcconnell might allow this bill i mentioned that i already passed in july, was a threshold for tax hikes, being at the $250,000 level, he may allow democrats to say, the house has to take this, or if there is some sort of vote on another measure, while mitch mcconnell would be unlikely to support it, perhaps he might let some of his republican senators do that, now, this is sort of thinking, coming from democrats, this is not something that mitch mcconnell at this point is planning to do, and it's very much unclear. the fact is, it doesn't just matter what the senate does, don, the house would have to pass something. and whatever were to come out of the senate at this point would require not just republican support, they made that clear last week when they didn't support speaker boehner's plan b. it would come down to speaker boehner deciding whether or not he would allow some sort of measure to go to the floor. and that is esp
reid in hawaii for the funeral of daniel inouye and is now back to washington. it could come down to the senate doing something. senator mcconnell might allow this bill i mentioned that i already passed in july, was a threshold for tax hikes, being at the $250,000 level, he may allow democrats to say, the house has to take this, or if there is some sort of vote on another measure, while mitch mcconnell would be unlikely to support it, perhaps he might let some of his republican senators do...
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senate majority leader harry reid is here, eulogized senator inouye and senator daniel acaca. it is fascinating, president obama is at thor is is mony watching this happen, just a reminder of just how long serving representing hawaii daniel inouye did, he represented hawaii from 1959, from before president obama was even born. he has been a main stay here in hawaiian politics and? a very significant moment for this state. >> also amazing that this guy served in world war two while members of his family were interred back in the u.s. an absolute hero. brianna, thank you very much. >>> no matter how the fiscal cliff negotiations play out, the wealthy will probably see their taxes go up, but congress can't seem to agree on hot wealthy is or are. even if they figure that out, there's also disagreement about how their taxes should go up. cnn's lisa sylvester sat down with a megamillionaire who says he is ready to take a hit and you so should the rest of the 1%. >> reporter: the question who is considered rich? house speaker john boehner pushed for tax hikes for those making $1 mill
senate majority leader harry reid is here, eulogized senator inouye and senator daniel acaca. it is fascinating, president obama is at thor is is mony watching this happen, just a reminder of just how long serving representing hawaii daniel inouye did, he represented hawaii from 1959, from before president obama was even born. he has been a main stay here in hawaiian politics and? a very significant moment for this state. >> also amazing that this guy served in world war two while members...
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all eyes there as senate majority leader harry reid tries to cobble together something that can get some republican support. we'll be waiting to see exactly when president obama is coming back but we understand that the senate even though it reconvenes on thursday may not, senate democrats may not roll out a bill until closer to the new year. also get some republican support and put pressure on the house to take it up. >> we'll be following that very closely. have a wonderful christmas and of course we'll talk with you a little bit later. if there are any developments on the fiscal cliff. stay with cnn for any movement on that standoff day or night. we're the woolstons in turkey. i'm joel. >> katy, sidney, brittany. >> we'd like to wish merry christmas to our family in idaho. merry christmas! >> merry christmas! >> happy holidays! t an amateur from a mile away... while going shoeless and metal-free in seconds. and you...rent from national. because only national lets you choose any car in the aisle...and go. you can even take a full-size or above, and still pay the mid-size price. now thi
all eyes there as senate majority leader harry reid tries to cobble together something that can get some republican support. we'll be waiting to see exactly when president obama is coming back but we understand that the senate even though it reconvenes on thursday may not, senate democrats may not roll out a bill until closer to the new year. also get some republican support and put pressure on the house to take it up. >> we'll be following that very closely. have a wonderful christmas...
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the first family attended today's funeral and so did his long-time friend, senator harry reid. >> to everything, there is a season, a time to every purpose under heaven, a time to be born and a time to die. you see, this was danienian inouye's time. he led a full and productive life. he was 88 years old and he lived each of those 88 years to its fullest. >> inouye's accomplishments are legendary. at his death, he was the senate's longest serving member, second only to robert byrd of west virginia. >>> back here in the u.s., the president is spending the christmas holiday with his family in hawaii. cnn's brianna keilar is there. there is no official word when he is coming back to the mainland but as that fiscal cliff deadline gets closer what do you think will happen as it rolls on? >> reporter: no official word the president will return to washington, i think that is the expectation. as you know, miguel, the senate will convene on december 27th, that's thursday. and in a perfect world, what the white house would want to see is the senate take up some sort of measure to avert the tax
the first family attended today's funeral and so did his long-time friend, senator harry reid. >> to everything, there is a season, a time to every purpose under heaven, a time to be born and a time to die. you see, this was danienian inouye's time. he led a full and productive life. he was 88 years old and he lived each of those 88 years to its fullest. >> inouye's accomplishments are legendary. at his death, he was the senate's longest serving member, second only to robert byrd of...
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Dec 24, 2012
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and senate majority leader harry reid, it is up to him, really, to cobble together something that can get some of that support. right now the white house is still supporting a threshold of $250,000 back to their initial starting point for tax rates going up for those making more than that. but you can imagine, hala, that's going to be very hard for some republicans, maybe even some democrats to sign on to. >> right. and for just about a week ago, it was common to hear a deal will be hammered out. over the last several days we're hearing more and more that potentially this is a reality for americans in eight days' time. your sources in the administration, is there a real concern among some of the people you're speaking with that indeed this fiscal cliff will become a reality? >> i thi >> reporter: i think there is much more of a concern. a couple of weeks ago, you talk to folks not only in the administration but on the hill, there was a thought that this may be averted. now i do think there is more pessimism. you're hearing that publicly, hala. that's also what is going on behind the s
and senate majority leader harry reid, it is up to him, really, to cobble together something that can get some of that support. right now the white house is still supporting a threshold of $250,000 back to their initial starting point for tax rates going up for those making more than that. but you can imagine, hala, that's going to be very hard for some republicans, maybe even some democrats to sign on to. >> right. and for just about a week ago, it was common to hear a deal will be...
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the senate democratic leader harry reid is the one trying to figure out if he can get the votes from enough republicans to pass the kind of scaled back bill that the president himself talked about on friday before he went to hawaii, which is effectively his plan to keep taxes in place, tax cuts in place, i should say, for every household making $250,000 and under and maybe add a few other tax related items, nothing on spending, but tax related items to that, the hope among democrats is that because we are so close to that deadline, that they can get enough republicans in the senate and the house ultimately to pass that, but, you know, the betting, according to sources in the republican and democratic party is still at this point that it is not going to be likely and we're most likely to go off the fiscal cliff. >> six days away. dana, what would majority leader reid have to add to the legislation to peel off just a few republicans, enough to get it through the house? i don't know if he would get widespread support from mitch mcconnell and the leadership, but just a few who are maybe
the senate democratic leader harry reid is the one trying to figure out if he can get the votes from enough republicans to pass the kind of scaled back bill that the president himself talked about on friday before he went to hawaii, which is effectively his plan to keep taxes in place, tax cuts in place, i should say, for every household making $250,000 and under and maybe add a few other tax related items, nothing on spending, but tax related items to that, the hope among democrats is that...
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reid as well as the senate minority leader mitch mcconnell, trying to figure out something that could ultimately pass the senate and then next pass the house with not only republican support but democratic support, as well. and the president holding out hope this could happen. take a listen. >> nobody can get 100% of what they want. and this is not simply a contest between parties in terms of who looks good and who doesn't. call me a hopeless optimist. but i actually still think we can get it done. >> but the chances of getting something big done that deals with the fiscal health of the country, miguel, out the window at this point. this is something we're talking about to deal just with those tax cuts set to expire for those making $250,000 or less. and also the president wants to deal with extending unemployment benefits for people who are out of work, but when it comes to dealing with, say, entitlement reform and other things to bring down the deficit, tax reform, that's not expected to be part of this. >> wow, pushing it right to the edge. will americans, workers across the countr
reid as well as the senate minority leader mitch mcconnell, trying to figure out something that could ultimately pass the senate and then next pass the house with not only republican support but democratic support, as well. and the president holding out hope this could happen. take a listen. >> nobody can get 100% of what they want. and this is not simply a contest between parties in terms of who looks good and who doesn't. call me a hopeless optimist. but i actually still think we can...
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harry reid said late last night he wondered if there was enough time to get this done. we've known this cliff was coming for months and yet the capitol hill in washington seems to be taking this at the last minute hoping they can throw a hail mary in the last couple of days. they haven't been talking or dealing. the president's apparently going to put forward some kind of a scaled down plan. that is not good news for anybody. >> john, we know we've heard from a florida congresswoman earlier from cnn who talks about there is such gridlock it's very difficult to even imagine how that would be unlocked. i want you to hear what she said. >> it's about scoring political points. i know the american people are tired of that. they're tired of all of us, i understand that. we make used car salesmen look good. that is the on group that's b w below us, but we've got to get our act together and prove to the american people they can regain the trufrt they once had in us and get the job done and as you say, not kick the can down the road. they want us to really work this out. i hope
harry reid said late last night he wondered if there was enough time to get this done. we've known this cliff was coming for months and yet the capitol hill in washington seems to be taking this at the last minute hoping they can throw a hail mary in the last couple of days. they haven't been talking or dealing. the president's apparently going to put forward some kind of a scaled down plan. that is not good news for anybody. >> john, we know we've heard from a florida congresswoman...
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if i had hair i'd pull it out with yesterday hearing harry reid saying we may not have enough time to get this done. this is the most anticipated thing we have ever seen. we all knew this was coming. the politics, there are real problems here. the bright spots in this economy have been housing and consumer confidence. despite these indicators, the american consumer has stayed steadfast. it started to come apart during the holiday shopping season. it will come out weaker than we expected. we got consumer confidence numbers that are lower than we have seen in the past months. bottom line is everybody is getting spooked by this. that stuff isn't a light switch. once you start losing confidence, once you start losing trust, it's hard to rebuild it. we're an economy on a slow and steady move, not as fast or strong as we'd like it to be. and this nonsense keeps staring back at that. it's going to take many years to improve our economy and get everybody employed and wreck it with the nonsense that continues to go on in washington. very frustrating. >> all right. thank you for that. four days
if i had hair i'd pull it out with yesterday hearing harry reid saying we may not have enough time to get this done. this is the most anticipated thing we have ever seen. we all knew this was coming. the politics, there are real problems here. the bright spots in this economy have been housing and consumer confidence. despite these indicators, the american consumer has stayed steadfast. it started to come apart during the holiday shopping season. it will come out weaker than we expected. we got...